American investment management firm Vanguard has expanded into Mexico and appointed Juan Manuel Hernandez as the head of the new business.
Most recently Hernandez served was head of institutional sales at Blackrock Mexico. He previously also served as head of sales for iShares Mexico.
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Vanguard Americas head Kathy Bock said: “Vanguard has been serving investors in Mexico since 2009 from our headquarters in the US, and we believe regulatory, fee, legal, and capital market structures are moving in the right direction to enable Vanguard to expand in Mexico.
“We are delighted to have someone of Juan’s caliber to lead Vanguard’s work to further increase access to our products to investors in Mexico.”
At present, the US-based group has 65 US-domiciled ETFs cross-listed on Bolsa Mexicana de Valores as well as 26 locally approved ETFs on the SIEFORE market. In total, the group reported $774bn in global ETF assets as at 30 June 2017.
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